Thai long-haul low-cost carrier NokScoot Airlines is set to terminate its business and enter a liquidation process, its owners confirmed on Friday.
NokScoot was a 2014-founded joint-venture between Thai low-cost carrier Nok Air and Sinagporean low-cost carrier Scoot, a subsidiary of Singapore Airlines. The carrier was based at Bangkok Don Mueang International Airport (IATA: DMK) and offered medium- to long-haul routes in Asia. Its fleet consisted of seven Boeing 777-200ER, all of which were previously flying for Singapore Airlines.
Wutthiphum Jurangkool, Chief Executive of Nok Airlines has issued a statement, saying that the fate of NokScoot was voted for in a special Board of Directors meeting held on Friday, June 26.
He says the decision to liquidate the airline was made because NokScoot “has been experiencing continuous financial losses“, which were amplified by the economic impact of the Coronavirus crisis. “NokScoot Airlines Co., Ltd.’s equity has been negative since 2019.” The airline had already halted flights and temporarily grounded its aircraft due to the ongoing pandemic and resulting travel restrictions.
On July 14th, NokScoot will hold a Annual General Meeting where its shareholders Nok Air and Scoot would formally approve the liquidation process and appoint a liquidator.
Jakob Wert is an aviation journalist from Germany. He built up the website IFN.news and is the Editor-In-Chief of International Flight Network.